Pacer Advisors Inc. Sells 191 Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL)


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Pacer Advisors Inc. lessened its stake in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 2.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,780 shares of the transportation company’s stock after selling 191 shares during the quarter. Pacer Advisors Inc.’s holdings in Old Dominion Freight Line were worth $1,630,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ODFL. Price T Rowe Associates Inc. MD grew its stake in shares of Old Dominion Freight Line by 50.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,606,010 shares of the transportation company’s stock worth $1,289,361,000 after purchasing an additional 2,214,190 shares during the last quarter. Norges Bank bought a new stake in shares of Old Dominion Freight Line in the fourth quarter worth $179,498,000. BlackRock Inc. grew its stake in shares of Old Dominion Freight Line by 6.3% in the fourth quarter. BlackRock Inc. now owns 8,084,935 shares of the transportation company’s stock worth $1,578,017,000 after purchasing an additional 478,782 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Old Dominion Freight Line by 33.1% in the fourth quarter. Wells Fargo & Company MN now owns 699,248 shares of the transportation company’s stock worth $136,479,000 after purchasing an additional 173,737 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Old Dominion Freight Line by 73.8% in the fourth quarter. KBC Group NV now owns 380,358 shares of the transportation company’s stock worth $74,238,000 after purchasing an additional 161,526 shares during the last quarter. 70.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ ODFL opened at $249.02 on Tuesday. The firm’s 50-day moving average price is $230.42 and its 200-day moving average price is $208.04. Old Dominion Freight Line, Inc. has a 1-year low of $123.50 and a 1-year high of $251.11. The firm has a market capitalization of $29.12 billion, a P/E ratio of 47.25, a P/E/G ratio of 1.89 and a beta of 1.00. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.03.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Thursday, February 4th. The transportation company reported $1.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.04. Old Dominion Freight Line had a net margin of 15.87% and a return on equity of 20.47%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business posted $1.20 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.61 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 17th. Shareholders of record on Wednesday, March 3rd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.32%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, March 2nd. Old Dominion Freight Line’s dividend payout ratio is presently 15.66%.

Several analysts recently weighed in on the stock. Stephens boosted their price objective on shares of Old Dominion Freight Line from $240.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 7th. Vertical Research assumed coverage on shares of Old Dominion Freight Line in a research note on Friday, March 26th. They issued a “hold” rating and a $220.00 price objective on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Old Dominion Freight Line from $218.00 to $224.00 and gave the company a “hold” rating in a report on Monday, March 29th. Cowen restated a “hold” rating on shares of Old Dominion Freight Line in a report on Friday, February 12th. Finally, Smith Barney Citigroup boosted their target price on shares of Old Dominion Freight Line from $200.00 to $225.00 in a report on Thursday, January 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $221.25.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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Institutional Ownership by Quarter for Old Dominion Freight Line (NASDAQ:ODFL)

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